Highest Sales Transactions Reached in Meadows, Jumeirah Islands

According to sources, “Among villas of real estate in Dubai, Meadows, Jumeirah Islands, Arabian Ranches recorded the highest transactions, while from an apartment perspective, Dubai Marina, JBR, Downtown Burj Dubai and JLT have recorded the highest transaction."

The Head of Sales of Asteco Property Management, Mr, Vineet Kumar said, “The top three residential areas, which have witnessed the most transactional activity in the month of November for apartments sales, have been The Palm Jumeirah, Dubai Marina and Downtown Burj Dubai areas. "The locations which witnessed the most transactional activity in the month of November for villa sales are The Emirates Living Area, Arabian Ranches and The Green Community."

The Director-Residential Sales and Leasing, Liz O'Connor, said: "From a sales perspective, among the villas, Springs/Meadows, Jumeirah Village, Jumeirah Islands stood apart and in the apartment’s category, it were Downtown Burj Dubai, Jumeirah Beach Residence and Dubai Marina.

Kumar also said that the profile of the buyer has been observed to be the end user primarily. However, there were some buyers who have bought property in Dubai for rental purposes focusing on holding the property assets for 5-7 years. He said, “The buyers on these projects were mixture of individuals from the GCC countries, Russia, India, Pakistan and Western Europe”

He said, “the sales activity on these projects have tended to revolve around the owners and sellers of properties who have purchased them in the years prior 2008.Typically these properties can be sold in today's market with some expectation of premium.”

Alwadiya said that mixed nationalities of end-users and investors have invested into these areas. "In general, buyers are more demanding and careful nowadays compared to last year and the previous years and hence they do enough due diligence before purchasing any properties. We have not seen major prices changes since the last three month - prices have stabilized in certain areas and you can always find very well priced properties in all areas of Dubai," she said.